Trading

Spinning top candlestick pattern

Introduction to Candlesticks

In the early 18th century, there was a Japanese businessman named Mona Lisa, whom he developed a technical analysis method to analyze the price of rice contracts. He was a rice futures trader and is also known as the grandfather of candlesticks. To date, this technique is called candlestick charting and is widely used when we draw financial market charts. The prices on the charts of the financial market assets, which we see are denoted by the candlesticks. The candlesticks are very helpful while trading and investing as they show us price points. The opening price of an Ester, the closing price of an asset, and the high and the low display a very crucial role in our trading and investing journey.

Candlesticks are used by traders and investors for looking at certain chart patterns, candlestick patterns on the chart. Each candlestick has a story to tell. Candlesticks are the language of the market. They give us a picture of what is going on behind the scenes in the market. Either the sellers are in control or the buyers are in the control, or there is a tug of war between them. That is why it is very crucial to understand that there are two types of candlesticks: the Polish and the Burish. This is a hypothetical example, and we are covering a really short example. Also, let’s suppose, for example, that we go to a trading dot to analyze any chart bear. So for this purpose, I opened the Bitcoin daily time frame chart.

The bullish candlestick shows us the opening price of an asset on this specific date. What was the opening price and what was the closing price of an asset? And these weeks, which you can see, show us the highest price and the lowest price of an asset on this specific date. The price, as you can see, was high but the price. The price went all the way up but closed at this specific point up for the better. Scandalously, the price opened here at the candlestick and closed at this point in this bearish candlestick. The price drop, hence the closing price, was this. I’ve opened the Bitcoin daily chart, and as you can see, the candle sticks, the green candlesticks represent the polished candlesticks and the British candlesticks represent the.

So these are the default settings on every chart you’ll see the green one for the Polish and the red one for the British. So for this purpose, let me show you that life example. Now, this one, as you can see, this green candle, is the Polish Kandinski.

So now on 24, 2020, the opening price of Bitcoin was. Ten thousand two hundred forty-eight dollars. This was the opening price of Bitcoin. This was the closing price of Bitcoin at ten thousand seven hundred and thirty-five dollars. And this was that this week was the highest, which is at around ten thousand seven hundred ninety-one. And the lowest price on this day was at ten thousand one hundred ninety-two. This is the Polish candidate, as you can see.

But the Bitcoin on this specific date, the price opened here and closed at this point. So now let me show you the bearish example. Now, as you can see, this is the bearish contesting the price on this specific. They are going to open on three September 2020 open at ten thousand five hundred and thirty-one dollars and closed around ten thousand two hundred thirty-seven dollars. The price is almost not high. A small peak around twenty dollars above. And the price Marullo at. Ten thousand one hundred thirty-two dollars. This was the law. These were the candlesticks.

Spinning top candlestick pattern

This is the spinning top Qing Dynasty spinning top candlestick that has a shocked body, which means that the opening price will be very close to the closing price of the empire. Spinning tops have long weeks, which means that here, as you can see in this diagram, the sellers tried very hard to drop the price, but they couldn’t be able to sustain the price since the price closed back for the buyers. The buyer started very hard to push the price upwards but couldn’t maintain the price. The spinning top candle can be bullish or bearish. Doesn’t matter when the spin out of control is formed on the chart. It means that there is indecision in the market. Neither the sellers want to dominate, and neither the buyers want to dominate. Well, then what is going on? The interpretation of the spinning top is a reversal,

Spinning top candlestick pattern

which means that if the spinning top is in an uptrend, there is a chance of reversal. And if it is found in the downturn, there is a chance of reversal, which means the downtrend is about to end. Let me share some life chart examples with you. Let’s go to the chart. As you can see here, the issue here was that there was an apparent split in top form, and the market went down. The price of this bearing is down here. You can see I marked this mentor for you and you can see then the market, the price of the Bittleman down spinning top came and the price went up. The same is the case with this one, the price was in an upcoming Sprint Cup game and the price went down. As you can see and hear, the price was down.

It’s been dropping and the price went up. After watching this with you guys, Google created a new dot com open, any beer, any commodity, any stock, any crypto which you want to analyze, open the check and your task for two days to identify the spinning top button because great practice makes perfect. And if you don’t implement it, then there is no use. Go to trading dot com, open any chart, and identify as many patterns as possible. If you are stuck anywhere or if you’re confused, just ask a question in the Q&A; and I’ll respond as soon as possible.

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